Banks Board Bureau

The finance ministry, over the next couple of months, is planning to identify new members, restructure the bureau, and recommend new names to the appointments committee of the cabinet

The appointments are in line with the recommendations made by the Banks Board Bureau

The salaries payable to the DMD will be market driven, and will be entitled for annual increments based on the performance and the guidelines of the institution

Also calls for A K Choudhary's appointment as SBI managing director

The Banks Board Bureau (BBB) on Wednesday recommended the name of Alok Kumar Choudhary for the post of managing director of State Bank of India. The headhunter for directors of state-owned banks and financial institution also recommended A Manimekhalai, Ajay Kumar Srivastava and Swaroop Kumar Saha for MD position of Union Bank of India, Indian Overseas Bank and Punjab & Sind Bank, respectively. The Bureau interviewed 21 candidates and based on their performance selected Alok Kumar Choudhary for the position of managing director of SBI, BBB said in a statement. Choudhary, who is deputy managing director (Finance), will replace Ashwini Bhatia who has been appointed a whole time member of Sebi. Prior to this, he was chief general manager of Delhi region for three years. The final decision on the appointment will be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. BBB is headed by former Department of Personnel and Training Secretary B P ...

Govt has appointed 14 EDs at public-sector banks; their performance will be reviewed after three years for a two-year extension

The Banks Board Bureau (BBB) has recommended to the government names of 13 general managers of various public sector banks (PSBs) for appointment as executive directors

The three-year term of current SBI Chairman Rajnish Kumar will come to an end on October 7

Banks Board Bureau, the headhunter for state-owned banks and financial institutions, has invited applications for the post of Deputy Managing Director of public sector financial institution SIDBI.

The bureau members interfaced with 20 candidates from nationalised banks on May 30 for the position of managing director in State Bank of India

As per the Banks Board Bureau's (BBB) recruitment notice, candidates including from the private sector can apply for the vacancies at the four banks till September 23

The BBB has told the government to improve the operative environment and selection process for filing up post of directors on PSB boards to "attract the best board-level talent"

The Government of India will take the final decision on the appointments, BBB added

This is the first appointment of bank executives recommended by the BBB under former DoPT Secretary Bhanu Pratap Sharma's leadership

Chairman Vinod Rai had pointed to communication gaps between the finance ministry and the BBB in his letter to the FM

Banks Board Bureau Chairman Vinod Rai today said the board was given a "free hand" in appointment process and dismissed any lack of coordination with the government as the rapport was "total". Amid reports suggesting that the board and the government were not on the same page on various issues, Rai emphasised that the coordination was to the extent that Finance Minister Arun Jaitley himself took him into confidence even when there was change of guard at two large public sector banks in May 2017. The tenure of the BBB is coming to an end on March 31. The bureau started functioning from April 1, 2016 as an autonomous recommendatory body and has seven members, including the chairman. "The BBB in the last two years has done monumental work with support and cooperation of the RBI and the government along with secretaries to the government of India working as members to the BBB," Rai told PTI in an interview. Dismissing reports that there was lack of coordination between the board and t

The former CAG said that the coordination was to the extent that the finance minister himself took him into confidence even when there was change of guard at the two large public sector banks in 2017

Rai said the BBB was not aware of progress made on reforms as "there has been no further engagement with the government"

Sources said recommendations were made by BBB Chairman Vinod Rai, other members

Shubhalaxmi Panse and Pradip Shah have been inducted into the board